You're quite right. Good news has no good effect on pps. In fact, after good news, what we've seen is the pps gradually drop, level out, then drop some more. It climbs back up a bit, levels out, then when more good news comes, it drops. Repeat ad infinitum, ad nauseum. But since I'm long, I don't care. I can wait until the cows come home, or some other appropriate saying.
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